Roth IRA, Traditional IRA, 401K » filing http://www.iraroth.net IRA Questions and Answers Mon, 26 Jul 2010 00:31:48 +0000 en hourly 1 http://wordpress.org/?v=3.0 Is there a max amount you can contribute to 2 seperate 401k accounts if you are married filing joinly? http://www.iraroth.net/2010/07/is-there-a-max-amount-you-can-contribute-to-2-seperate-401k-accounts-if-you-are-married-filing-joinly/ http://www.iraroth.net/2010/07/is-there-a-max-amount-you-can-contribute-to-2-seperate-401k-accounts-if-you-are-married-filing-joinly/#comments Fri, 09 Jul 2010 00:10:52 +0000 admin http://www.iraroth.net/2010/07/is-there-a-max-amount-you-can-contribute-to-2-seperate-401k-accounts-if-you-are-married-filing-joinly/ My wife’s company just added a 401k and I am considering contributing to it but was wondering if there are limits to max 401k contributions if we file married/jointly? I currently max out my 401k account and I know with our combined income status IRA contributions are no longer tax deductible so I am worried adding to her 401k will bring the same limitation.

]]> http://www.iraroth.net/2010/07/is-there-a-max-amount-you-can-contribute-to-2-seperate-401k-accounts-if-you-are-married-filing-joinly/feed/ 5 Is there any income limit for married couple filing joint so we can deduct a traditional IRA? http://www.iraroth.net/2010/03/is-there-any-income-limit-for-married-couple-filing-joint-so-we-can-deduct-a-traditional-ira/ http://www.iraroth.net/2010/03/is-there-any-income-limit-for-married-couple-filing-joint-so-we-can-deduct-a-traditional-ira/#comments Tue, 09 Mar 2010 17:51:09 +0000 admin http://www.iraroth.net/2010/03/what-is-the-income-limit-for-married-filing-joint-to-be-able-to-deduct-a-traditional-ira/ http://www.iraroth.net/2010/03/is-there-any-income-limit-for-married-couple-filing-joint-so-we-can-deduct-a-traditional-ira/feed/ 1 IRA Deduction-how much if married filing jointly and we both have IRAs in our own name? http://www.iraroth.net/2010/02/ira-deduction-how-much-if-married-filing-jointly-and-we-both-have-iras-in-our-own-name/ http://www.iraroth.net/2010/02/ira-deduction-how-much-if-married-filing-jointly-and-we-both-have-iras-in-our-own-name/#comments Mon, 08 Feb 2010 17:55:30 +0000 admin http://www.iraroth.net/2010/02/ira-deduction-how-much-if-married-filing-jointly-and-we-both-have-iras-in-our-own-name/ Hello. The above says it all. My wife and I are both over 50, and we file married/filing jointly. If we both put $5000 in our IRAs, do we get a $10,000 deduction, or do we max out at $5000?

thanks a bunch…

RVS

]]> http://www.iraroth.net/2010/02/ira-deduction-how-much-if-married-filing-jointly-and-we-both-have-iras-in-our-own-name/feed/ 4 Is an excess Roth IRA contribution taxable when withdrawing it after the tax filing deadline with extension? http://www.iraroth.net/2009/12/is-an-excess-roth-ira-contribution-taxable-when-withdrawing-it-after-the-tax-filing-deadline-with-extension/ http://www.iraroth.net/2009/12/is-an-excess-roth-ira-contribution-taxable-when-withdrawing-it-after-the-tax-filing-deadline-with-extension/#comments Tue, 01 Dec 2009 02:48:52 +0000 admin http://www.iraroth.net/2009/12/is-an-excess-roth-ira-contribution-taxable-when-withdrawing-it-after-the-tax-filing-deadline-with-extension/ I contributed $6000 to a Roth IRA in 2006, which caused an excess of $2000. It is now after the tax-filing deadline with extension. I know that there is a 6% excise tax penalty already. My question is: Are there any taxes if I withdraw the $2000? And would the early distribution penalty 10% apply since I am under 59 1/2?

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